I am a newbie...if you can call someone 50 years old a newbie . So far I have been mining for about one month and have made 1/3 of my initial investment.This can be profitable but has become my new hobby as well. I am formerly a "banker" by trade and I am adding a new Antminer to my growing farm. Have you guys seen the prices for the cloud hashing from Cointerra 10TH between 37K and 50K a year...Why would you do that? 10 Antminers would cost after coupons $19,600.00. Even if you have your miners hosted the total would be 37K a year. Then at least you could sell your equipment at a later date. Why would you contract hash?

I am a newbie...if you can call someone 50 years old a newbie . So far I have been mining for about one month and have made 1/3 of my initial investment.This can be profitable but has become my new hobby as well. I am formerly a "banker" by trade and I am adding a new Antminer to my growing farm. Have you guys seen the prices for the cloud hashing from Cointerra 10TH between 37K and 50K a year...Why would you do that? 10 Antminers would cost after coupons $19,600.00. Even if you have your miners hosted the total would be 37K a year. Then at least you could sell your equipment at a later date. Why would you contract hash?

Hello, and welcome.

I'm curious as to what you purchased and for how much that returned 1/3 in a month? When I crunch the numbers on many of the devices I see for sale, factor in predicted rises in difficulty, I do not see many ever reaching ROI.

I started with GPU mining then purchased four 10 G/Hs ASICMiner Block Erupter blades in 9/2013, cashed in when BTC topped $1,000 and did well, but I'm about ready to shut them down as the cost to run them is closing in on what they are generating.

Contract hashing? As you may be guessing it is a scam. It's been around for a while now.

I am a newbie...if you can call someone 50 years old a newbie . So far I have been mining for about one month and have made 1/3 of my initial investment.This can be profitable but has become my new hobby as well. I am formerly a "banker" by trade and I am adding a new Antminer to my growing farm. Have you guys seen the prices for the cloud hashing from Cointerra 10TH between 37K and 50K a year...Why would you do that? 10 Antminers would cost after coupons $19,600.00. Even if you have your miners hosted the total would be 37K a year. Then at least you could sell your equipment at a later date. Why would you contract hash?

Hello, and welcome.

I'm curious as to what you purchased and for how much that returned 1/3 in a month? When I crunch the numbers on many of the devices I see for sale, factor in predicted rises in difficulty, I do not see many ever reaching ROI.

I started with GPU mining then purchased four 10 G/Hs ASICMiner Block Erupter blades in 9/2013, cashed in when BTC topped $1,000 and did well, but I'm about ready to shut them down as the cost to run them is closing in on what they are generating.

Contract hashing? As you may be guessing it is a scam. It's been around for a while now.

Cost of electricity is a major factor plus considering the dropping prices in mining gear and ROI can be had in most cases. When reward halving occurs again, undervolting may be required on some gear to keep the Gh/s/Watt ratio down and profitable. My Antminer S1 units WILL pay for themselves before this years end.

Hello all, I got an email today from (what i though was slush's pool at first, it wasn't) lightningasic.me. They are claiming to have a 1TH miner for 1.1BTC. Has anybody else had any experience with them. To me it sounds like a scam (i got dupe once before by asictech.net) and was wondering if anybody can vouch for their credibility. Any input would be appriciated. Thanks.

Hello all, I got an email today from (what i though was slush's pool at first, it wasn't) lightningasic.me. They are claiming to have a 1TH miner for 1.1BTC. Has anybody else had any experience with them. To me it sounds like a scam (i got dupe once before by asictech.net) and was wondering if anybody can vouch for their credibility. Any input would be appriciated. Thanks.

There are so many red flags, anybody buying from that site must get their head examend imo.

The next jump in difficulty will put my ASICMiner erupter blades into no gain territory if I'm doing the math correctly. The erupter cubes may hang in there another jump or two or until I have to cool this room because of them. I GPU mined BTC and other coins for three years until I purchased ASICs from August to October of last year. It's been a fun time, I think I'll continue my GPU and CPU mining (Go Riecoin!) for a while, but I don't see any new hardware out there that would come close to ROI.

Jeez, 80+ PHs, where did all that new hardware came from!?Just when i though that the next difficulty increase would be around 15%, this happens

The last difficulty increase was 'just' 11% (from 8000872135 to 8853416309). Bitcoin mining hardware is becoming more affordable (example: Antminer S1), no wonder that this pool and others have significant increases to their hash rate (BTC guild will reach 10 PH soon, while we are looking at 2 PH).

I think we are getting to that point of buying the coin will just be a better investment. These miners are crazy. I'm getting a little nervous about my ROI now... I'm 2 th/s in and 3 BTC away from ROI before power costs. I've done well, and the plan was to have 100% ROI power included by the 4th of july. If the difficulty pops 20% a few more cycles though I might lose hope on actual ROI.

I'm really hoping this is BFL and KNC just premining with their customer's gear, because if this is straight up buying and building from actual companies I'm going to be scared.

I think we are getting to that point of buying the coin will just be a better investment. These miners are crazy. I'm getting a little nervous about my ROI now... I'm 2 th/s in and 3 BTC away from ROI before power costs. I've done well, and the plan was to have 100% ROI power included by the 4th of july. If the difficulty pops 20% a few more cycles though I might lose hope on actual ROI.

I'm really hoping this is BFL and KNC just premining with their customer's gear, because if this is straight up buying and building from actual companies I'm going to be scared.

I can't recall the exact phrase, something about the California gold rush, where the people making the most money were those selling the tools. We reached that point some time ago with mining equipment.

The rise in difficulty you see is from many outfits with deep pockets building very large data centers. I would expect this to continue while there is money to be made.

KNC and BFL have not delivered their latest preorders yet. I expect to see a doubling of the global hashrate by the end of this year.

They are scams. I don't know about KNC but I've seen plenty of posts on how long BFL dragged people out on pre-orders of their last product line. If the product BFL is selling exists at all they are mining with it currently. They'll stop mining and ship pre-orders well after any chance at breaking even is lost, butter your back side up and say "Thanks for playing".

I think we are getting to that point of buying the coin will just be a better investment. These miners are crazy. I'm getting a little nervous about my ROI now... I'm 2 th/s in and 3 BTC away from ROI before power costs. I've done well, and the plan was to have 100% ROI power included by the 4th of july. If the difficulty pops 20% a few more cycles though I might lose hope on actual ROI.

I'm really hoping this is BFL and KNC just premining with their customer's gear, because if this is straight up buying and building from actual companies I'm going to be scared.

i took a risk and bought 1 saturn n 2 mods back in november 2nd hand for like 25btc, ROI'd around 5-6 months after...just bought another jup for 3.5btc and another nov. jup for 4.85btc I'm expecting them to ROI eventually...these asic companies can't keep doubling the diff. rate like everyone thinks....just not possible to keep pumping out that much hardware, even if like 10 or 20 more new companies started pumping out more hardware, we'll see it level off...dunno when it'll happen or how high diff rate will be, but it will level off, just gotta hope your equipment is still in the green paying for power or keep it going operating at a loss in hopes of btc price taking off again just my 2 cents

KNC and BFL have not delivered their latest preorders yet. I expect to see a doubling of the global hashrate by the end of this year.

If KNC BFL and others will start delivering 20nm miners in july, august as promised, it will not only double, 200Phashes till end of year are really real. The speed more than doubled in two months from march to may from 30Phashes to over 70 now. So I will say, my expectation of 200 may be even very low.

I think we are getting to that point of buying the coin will just be a better investment. These miners are crazy. I'm getting a little nervous about my ROI now... I'm 2 th/s in and 3 BTC away from ROI before power costs. I've done well, and the plan was to have 100% ROI power included by the 4th of july. If the difficulty pops 20% a few more cycles though I might lose hope on actual ROI.

I'm really hoping this is BFL and KNC just premining with their customer's gear, because if this is straight up buying and building from actual companies I'm going to be scared.

i took a risk and bought 1 saturn n 2 mods back in november 2nd hand for like 25btc, ROI'd around 5-6 months after...just bought another jup for 3.5btc and another nov. jup for 4.85btc I'm expecting them to ROI eventually...these asic companies can't keep doubling the diff. rate like everyone thinks....just not possible to keep pumping out that much hardware, even if like 10 or 20 more new companies started pumping out more hardware, we'll see it level off...dunno when it'll happen or how high diff rate will be, but it will level off, just gotta hope your equipment is still in the green paying for power or keep it going operating at a loss in hopes of btc price taking off again just my 2 cents

they are using 28nm now and preparing to switch to 20nm and looking for capacities for 14, once they will be available, the Asics will aim for 10Thash machines, actually, on 20% diff adjustment, network doubles every 2 months.

I think we are getting to that point of buying the coin will just be a better investment. These miners are crazy. I'm getting a little nervous about my ROI now... I'm 2 th/s in and 3 BTC away from ROI before power costs. I've done well, and the plan was to have 100% ROI power included by the 4th of july. If the difficulty pops 20% a few more cycles though I might lose hope on actual ROI.

I'm really hoping this is BFL and KNC just premining with their customer's gear, because if this is straight up buying and building from actual companies I'm going to be scared.

...these asic companies can't keep doubling the diff. rate like everyone thinks....just not possible to keep pumping out that much hardware, even if like 10 or 20 more new companies started pumping out more hardware, we'll see it level off...

Of course they can because people keep buying it. Have you looked at the last 12 months diff' increases? Times that by ten, it will be a glimpse into the near future.

YES, I'm selling bitcoin mining futures right here! Get 'em while there hot!!!